{"id":100711,"date":"2018-11-19T18:02:15","date_gmt":"2018-11-19T18:02:15","guid":{"rendered":"https:\/\/www.bnreport.com\/expert-panel-to-look-into-issues-on-capital-surplus-rbi\/"},"modified":"2018-11-19T18:02:15","modified_gmt":"2018-11-19T18:02:15","slug":"expert-panel-to-look-into-issues-on-capital-surplus-rbi","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/expert-panel-to-look-into-issues-on-capital-surplus-rbi\/","title":{"rendered":"Expert panel to look into issues on capital surplus: RBI"},"content":{"rendered":"

Mumbai: The RBI<\/a> board on Monday decided to set up a high-powered committee<\/a> to examine issues related to surplus capital of Rs 9.69 lakh crore with the central bank and advised it to consider a scheme for restructuring stressed assets in the MSME<\/a> sector. <\/p>\n

At a nine-hour long meeting of the board, it was also decided that the Board<\/a> for Financial Supervision (BFS<\/a>) of the RBI would examine the issues concerning the banks that are under the Prompt Corrective Action framework, according to a release. <\/p>\n

"The board decided to constitute an expert committee to examine the Economic Capital Framework, the membership and terms of reference of which will be jointly determined by the Government of India and the RBI," the central bank said. <\/p>\n

Further, the apex bank has been advised to consider a scheme for restructuring of stressed standard assets of MSME borrowers with aggregate credit facilities of up to Rs 25 crore, subject to such conditions as are necessary for ensuring financial stability, it added. <\/p>\n

It will also inject Rs 8,000 crore into the system through purchase of government securities on November 22. <\/p>\n

"Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the RBI has decided to conduct purchase of the following government securities under Open Market Operations for an aggregate amount of Rs 80 billion on November 22, 2018 (Thursday)\u2026," it said in a statement. <\/p>\n

The OMO operation will help ease tight liquidity situation triggered by series of default by group companies of IL&FS. <\/p>\n

The eligible participants should submit their offers in electronic format on the Reserve Bank<\/a> of India Core Banking Solution (E-Kuber) system on November 22. <\/p>\n

The RBI had earlier stated that the system liquidity will move into deficit in the second half of 2018-19 and the evolving liquidity conditions would determine its choice of instruments for both transient and durable liquidity management. <\/p>\n

As part of the OMOs, the RBI will purchase government securities maturing in 2021 bearing interest rate of 7.80 per cent, 2024 (8.40 per cent), 2026 (8.33 per cent), 2028 (8.60 per cent) and 2032 (8.28 per cent). <\/p>\n

The RBI said it has the right to decide on the quantum of purchase of individual securities and can also accept offers for less than Rs 8,000 crore. <\/p>\n

It may as well purchase marginally higher than the aggregate amount due to rounding-off effect, the central bank said, adding that it can also accept or reject any or all the offers either wholly or partially without assigning any reason. <\/p>\n

OMOs are the tools that can be used to either inject or drain liquidity from the system. It is employed to adjust rupee liquidity conditions in the market on a durable basis. <\/p>\n

If there is excess liquidity, the RBI resorts to sale of securities and sucks out the rupee liquidity. Similarly, when the liquidity conditions are tight, it buys securities from the market, thereby releasing money into the market. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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Mumbai: The RBI board on Monday decided to set up a high-pow..<\/p>\n","protected":false},"author":1,"featured_media":100712,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-100711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nExpert panel to look into issues on capital surplus: RBI - Business News Report<\/title>\n<meta name=\"description\" content=\"Mumbai: The RBI board on Monday decided to set up a high-pow..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/expert-panel-to-look-into-issues-on-capital-surplus-rbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expert panel to look into issues on capital surplus: RBI - 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